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Retail price of gasoline in the United States by quarter 2015-2020

A glut in oil supply between 2014 and 2016 forced down prices and led to a low average U.S. gasoline price of roughly 1.9 U.S. dollars per gallon in the first quarter. Gasoline prices fluctuated considerably between 2019 and 2020 as a result of tensions between the United States and other oil exporters, such as Iran, and stifling oil demand during the COVID-19 pandemic. The price of West Texas Intermediate briefly dipped in the negative in April 2020.

Seasonal price variations

There are periodic fluctuations in gasoline prices in the United States, where the second and third quarters are typically more expensive than the rest of the year. One of the factors contributing to changing gasoline prices is a decrease in production from refineries due to maintenance work in tandem with an increase in demand, as holiday goers make road-trips. Gasoline will revert to cheaper winter-grade in September. Annual motor vehicle consumption in the United States is around 145 billion gallons.

Average quarterly retail price of regular gasoline in the United States between 1st quarter of 2015 and 1st quarter of 2020 (in U.S. dollars per gallon)*

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Source

Release date

2020

Region

United States

Survey time period

Q1 2015 to Q1 2020

Supplementary notes

* Regular all formulations retail gasoline prices.
Averages have been generated from monthly average figures.
The values have been rounded.

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* Prices do not include sales tax.

Statistics on "Gasoline-powered vehicles in the United States"

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